Scientech Research LLC Sells 1,338 Shares of Eli Lilly and Company (NYSE:LLY)

Scientech Research LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 53.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,182 shares of the company’s stock after selling 1,338 shares during the period. Scientech Research LLC’s holdings in Eli Lilly and Company were worth $1,070,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LLY. Lighthouse Investment Partners LLC raised its position in Eli Lilly and Company by 345.4% during the second quarter. Lighthouse Investment Partners LLC now owns 25,538 shares of the company’s stock worth $23,122,000 after acquiring an additional 19,804 shares in the last quarter. MBB Public Markets I LLC grew its position in shares of Eli Lilly and Company by 3,705.6% in the 2nd quarter. MBB Public Markets I LLC now owns 57,465 shares of the company’s stock valued at $52,028,000 after acquiring an additional 55,955 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Eli Lilly and Company during the 2nd quarter worth about $534,000. Daymark Wealth Partners LLC raised its holdings in shares of Eli Lilly and Company by 8.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 11,558 shares of the company’s stock valued at $10,464,000 after purchasing an additional 917 shares during the period. Finally, DSM Capital Partners LLC lifted its stake in Eli Lilly and Company by 7,544.6% in the 2nd quarter. DSM Capital Partners LLC now owns 7,721 shares of the company’s stock valued at $6,990,000 after purchasing an additional 7,620 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LLY shares. Citigroup assumed coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price target for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Down 3.5 %

Shares of NYSE LLY opened at $877.50 on Friday. The company has a market cap of $833.98 billion, a price-to-earnings ratio of 129.23, a PEG ratio of 2.78 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The stock has a 50-day moving average price of $896.10 and a two-hundred day moving average price of $842.91.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. As a group, analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total value of $8,098,662.88. Following the completion of the transaction, the insider now directly owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 423,559 shares of company stock worth $393,136,808 in the last 90 days. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.